2018 Financial Fact Book

2018 Financial Fact Book

Walmart Inc. (NYSE: WMT) Fact Book ? Fiscal 2018 April 20, 2018

1

Quick Facts

Company Description

Walmart Inc. (NYSE: WMT) helps people around the world save money and live better ? anytime and anywhere ? in retail stores and through eCommerce. Through innovation, we are striving to create a customer-centric experience that seamlessly integrates our eCommerce and retail stores in an omnichannel offering that saves time for our customers. Each week, we serve nearly 270 million customers who visit our more than 11,700 stores and numerous eCommerce websites under 65 banners in 28 countries. Our operations comprise three reportable segments: Walmart U.S., Walmart International and Sam's Club. With fiscal year 2018 revenue of $500.3 billion, Walmart employs approximately 2.3 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity.

Additional information about Walmart can be found by visiting: , on Facebook at and on Twitter at .*

Investor Contact Kary Brunner

Sr. Director, Investor Relations 479-277-8782

Media Contact Randy Hargrove Sr. Director - National Media Relations

479-277-0547

* As of January 31, 2018 The amounts shown in this Fact Book are based on the most recently publically disclosed documents for fiscal 2018.

Corporate Home Office

Walmart Inc. 702 SW 8th Street Bentonville, AR 72716 Tel: 479-273-4000 Fax: 479-277-1830

Walmart U.S. Home Office

Walmart U.S. 702 SW 8th Street Bentonville, AR 72716

Sam's Club Home Office

Sam's Club 2101 S.E. Simple Savings Dr.

Bentonville, AR 72716

Walmart International Home Office

Walmart International Support Center 702 SW 8th Street

Bentonville, AR 72716

Walmart eCommerce Home Office

Walmart eCommerce 850 Cherry Avenue San Bruno, CA 94066

Contents Page Contents

2 Description and Contacts 3 Strategy 4 Financial Overview 5-6 Strong & Efficient Growth 7 Segment Overview 8 Consistent Operating Discipline 9-10 Strategic Capital Allocation 11 Stock Performance & Returns 12-13 Consolidated Statements of Income 14 Consolidated Balance Sheets 15 Consolidated Statements of Cash Flow

Walmart Global eCommerce Retail Sites



walmart.ca/en .mx/inicio .mx .mx

wal-



.ar makro.co.za

dionwired.co.za bestpricewholesale.co.in

2

Strategy

Culture & Values

Service to Respect for the Customer the Individual

Strive for Excellence

Act with Integrity

Strategic Objectives 1. Make Every Day Easier for Busy Families 2. Change How We Work 3. Deliver Results and Operate with Discipline 4. Be the Most Trusted Retailer

Stakeholders Customers Associates Communities Shareholders

Financial Framework

Strong, Efficient Growth

Consistent Operating Discipline

Strategic Capital Allocation

Framework for Sustainable Earnings

Growth & Strong Returns

We Save People Money So They Can Live Better

3

Consolidated Financial Overview

(Amounts in Millions, Except Unit Counts) Operating Results Total revenues Percentage change from comparable period Net sales Percentage change in net sales from previous fiscal year Increase (Decrease) in calendar comparable sales*

in the United States Walmart U.S. Sam's Club

Gross profit rate Operating, selling, general and administrative expense,

as a percentage of net sales Operating income Income from continuing operations attributable to Walmart Net income per common share:

Diluted income per common share from continuing operations attributable to Walmart

Dividends declared per common share

As of and for the Fiscal Years Ended January 31,

FY18

FY17

FY16

FY15

FY14

$500,343 3.0%

$495,761 3.0%

$485,873 0.8%

$481,317 0.6%

$482,130 (0.7%)

$478,614 (0.7%)

$485,651 2.0%

$482,229 1.9%

$476,294 1.6%

$473,076 1.6%

2.2% 2.1% 2.8% 24.7%

1.4% 1.6% 0.5% 24.9%

0.3% 1.0% (3.2%) 24.6%

0.5% 0.6% 0.0% 24.3%

(0.5%) (0.6%) 0.3% 24.3%

21.5% $20,437 $9,862

21.2% $22,764 $13,643

20.3% $24,105 $14,694

19.4% $27,147 $16,182

19.3% $26,872 $15,981

$3.28 $2.04

$4.38 $2.00

$4.57 $1.96

$4.99 $1.92

$4.85 $1.88

* Comparable sales include sales from stores and clubs open for the previous 12 months, including remodels, relocations and expansions, as well as eCommerce sales and sales from eCommerce acquisitions when such acquisitions have been owned for 12 months. Comparable sales include fuel.

4

Strong, Efficient Growth: U.S. Quarterly Comparable Store Sales Without Fuel* (4-54 Retail Calendar)

Walmart U.S. & Sam's Club (ex. Fuel*) Comparable Store Sales Increased in FY18...

...and Accelerated on a Two-Year Stacked Basis (ex. Fuel*)

Increased sales growth through comps and eCommerce

* Excludes fuel. See respective Company earnings releases at stock. for 4-5-4 comparable sales including fuel, the most directly comparable GAAP measure.

5

Financial Overview: Summary of Quarterly (4-5-4) Comparable Store Sales Without Fuel**, Traffic and Ticket Trends

U.S. Quarterly Comparable Store Sales Results Without Fuel** (4-5-4 Retail Calendar)

Fiscal Years Ended January 31

FY18

FY17

Comp-Store Sales

Q4

Q3

Q2

Q1

Q4

Q3

Q2

Q1

Q4

Walmart U.S. Neighborhood Market

Sam's Club

2.6% 5.5% 2.4%

2.7% 6.0% 2.8%

1.8% 5.6% 1.2%

1.4% 6.2% 1.6%

1.8% 5.3% 2.4%

1.2% 5.2% 1.4%

1.6% 6.5% 0.6%

1.0% 7.1% 0.1%

0.6% 7.0% -0.5%

eCommerce Impact*

Q4

Q3

Q2

Q1

Q4

Q3

Q2

Q1

Q4

Walmart U.S. Sam's Club

0.6% 0.8%

0.8% 0.8%

0.7% 0.8%

0.8% 0.8%

0.4% 0.8%

0.5% 0.6%

0.4% 0.6%

0.2% 0.6%

0.3% 0.8%

FY16

Q3

Q2

1.5% 1.5%

8.0% 7.3%

0.4% 1.3%

Q3

Q2

0.2% 0.2%

0.6% 0.6%

Q1 1.1% 7.9% 0.4%

Q1 0.2% 0.4%

Quarterly Traffic/Ticket Trends (4-5-4 Retail Calendar)

Fiscal Years Ended January 31

FY18

Walmart U.S.

Q4

Q3

Q2

Q1

Q4

Traffic

1.6% 1.5% 1.3% 1.5% 1.4%

Ticket

1.0% 1.2% 0.5% -0.1% 0.4%

FY17

Q3

Q2

0.7% 1.2%

0.5% 0.4%

Q1 1.5% -0.5%

Q4 0.7% -0.1%

FY16

Q3

Q2

1.7% 1.3%

-0.2% 0.2%

Q1 1.0% 0.1%

Sam's Club Traffic Ticket

Q4 4.3% -1.9%

FY18

Q3

Q2

3.6% 2.1%

-0.8% -0.9%

Q1 1.1% 0.5%

Q4 1.2% 1.2%

FY17

Q3

Q2

-0.5% -0.4%

1.9% 1.0%

Q1 -0.2% 0.3%

Q4 -1.4% 0.9%

FY16

Q3

Q2

-0.3% 0.5%

0.7% 0.8%

Q1 -0.2% 0.6%

FY2018 International Comparable Store Sales & Traffic/Ticket Trends (4-5-4 Retail Calendar)

Fiscal Years Ended January 31

FY18 Comps

FY18 Traffic

FY18 Ticket

WMT International***

Q4

Q3

Q2

Q1

Q4

Q3

Q2

Q1

Q4

Q3

Q2

UK Walmex Canada China

0.5% 6.1% 2.9% 2.3%

1.1% 7.0% 1.0% 2.5%

1.8% 7.2% 2.5% 0.6%

-2.8% 3.7% 1.5% -1.3%

-1.6% 0.9% 1.4% 0.8%

-1.4% 0.3% 1.0% -0.8%

0.6% 0.8% 1.4% -1.4%

-2.0% -1.2% -0.7% -4.1%

2.1% 5.2% 1.5% 1.5%

2.5% 6.7% 0.0% 3.3%

1.2% 6.4% 1.1% 2.0%

Q1 -0.8% 4.9% 2.2% 2.8%

* The company's eCommerce sales impact includes those sales initiated through the company's websites and fulfilled through the company's dedicated eCommerce distribution facilities, as well as an estimate for sales initiated online, but fulfilled through the company's stores and clubs. ** Excludes fuel. See respective Company earnings releases at stock. for 4-5-4 comparable sales including fuel, the most directly comparable GAAP measure. ***Top 4 International markets by size. Results are on a constant currency basis.

6

Segment Overview

Net Sales by Segment - FY18

Walmart U.S. Merchandise Category, % of Segment Net Sales

24% 12%

64%

100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%

33% 11% 56% FY16

33% 11% 56% FY17

33% 11% 56% FY18

100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%

Walmart U.S. Sam's Club International

Grocery* Health and wellness General Merchandise

* Walmart U.S. grocery consists of a full line of grocery items, including meat, produce, natural & organics, deli & bakery, dairy, frozen foods, alcoholic and nonalcoholic beverages, floral and dry grocery, as well as consumables such as health and beauty aids, baby products, household chemicals, paper goods and pet supplies

Sam's Club Merchandise Category, % of Segment Net Sales

5%

6%

6%

7%

6%

6%

9%

9%

9%

20%

20%

21%

59%

59%

58%

FY16

FY17

FY18

Health and wellness Technology, office and entertainment Home and apparel Fuel and other categories Grocery and consumables

7

Consistent Operating Discipline

Strong Inventory Management at Walmart U.S. Benefits Working Capital

4.0% 2.0%

Walmart U.S. Quarterly Comp Store Sales (ex. Fuel*) & Y/Y % Change in Inventory

1.0%

1.6%

1.2%

1.8%

1.4%

1.8%

2.7%

2.6%

0.0% -2.0%

-0.2%

-4.0%

-3.8% -3.5%

-6.0% -5.7%

-8.0% 1Q17

-6.5% 2Q17

-5.8% 3Q17

-7.2% 4Q17

-7.3% 1Q18

2Q18

3Q18

4Q18

Walmart U.S. Y/Y Change in Comp-Store Inventory

Walmart U.S. Comp-Store Sales

* Excludes fuel. See respective Company earnings releases at stock. for 4-5-4 comparable sales including fuel, the most directly comparable GAAP measure.

8

Committed to Leveraging Expenses

In FY18, good progress with cost discipline: ? Leverage in the U.S. stores and Int'l ? EDLC culture reinforced SG&A has been impacted by strategic investments in: ? Associates (wages, benefits, training) ? Customers (experience) ? Technology ? eCommerce ? Supply Chain

Walmart Consolidated SG&A % of Total Net Sales

~19%

~20%

~21%

~21%

FY15

FY16

FY17

FY18

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